NVO
📈 Novo Nordisk shares surged nearly 6% on expectations that competition for its highly successful obesity drug, Wegovy, will diminish.
💊 The company anticipates a sales rebound in the latter half of the year as the availability of cheaper, compounded versions of its drugs is expected to end.
🎯 Despite trimmed financial forecasts, investors are optimistic, focusing on Novo Nordisk’s strong position in the lucrative obesity market against rivals like Eli Lilly.
@bernardodegarcia:
“We also have another company that just released quarterly results a few minutes, a few hours ago. Novo Nordisk was up thanks to expectations that competition for its successful anti-obesity injection, Wegovy, will decrease, paving the way for a sales rebound later this year. Shares are up almost 6% as investors ignored the Danish pharmaceutical’s trimmed financial forecasts. Novo faces its rival, Eli Lilly, for supremacy in the burgeoning obesity market and is losing patients due to cheaper copies of its best-selling products produced by some U.S. pharmacies. This latter situation is about to end, and CFO Carsten Munk Knudsen stated that he expects a rebound in the second half of the year as this competition—the competition from its imitations—decreases.”
Watch the exact part of the video where Bernardo talks about Novo Nordisk here:
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